Singapore s DBS Bank to focus on India and China for growth ANI | Updated: Apr 05, 2021 14:24 IST
By Lee Kah Whye
Singapore, April 5, 2021 (ANI): Singapore s DBS Bank, which acquired India s Lakshmi Vilas Bank (LVB) last November, plans to accelerate its business by doubling down on growth markets of India and China.
DBS Group CEO, Piyush Gupta, said this when briefing investors, analysts, and the media at its virtual annual general meeting (AGM) last week.
In spite of the health crisis and economic chaos caused by the COVID-19 pandemic, Southeast Asia s largest lender by total assets achieved its highest ever operating profit of SGD 8.4 billion (USD 6.3 billion). This was an increase of two per cent over the previous year. Total income held steady at SGD 14.6 billion (USD 10.9 billion) which was about the same as in 2019.
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ANI | Updated: Mar 15, 2021 11:45 IST
By Lee Kah Whye
Singapore, March 15 (ANI): Malaysian discount carrier AirAsia, which co-owns AirAsia India with Tata Sons, has launched a no-frills food delivery service in Singapore.
This is aligned with their super-app strategy to diversify revenues following the devastation caused by the COVID-19 pandemic to the airline industry. Airlines around the world are struggling to stay afloat and are finding ways to generate some revenue in whatever form.
In a report published on March 5, IATA (International Air Transport Association) said that air travel measured by Revenue Passenger Kilometres (RPKs) fell in January, from levels in December, and was 72 per cent lower than in the pre-crisis month of January 2019. This setback for the airlines passenger business was driven by tightening government travel restrictions across the world, following the emergence of COVID-19 variants.
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Singapore ranks First, India 26th in Asia-Pac in latest Economic Freedom Index ANI | Updated: Mar 08, 2021 13:18 IST
By Lee Kah Whye
Singapore, March 8 (ANI): Singapore topped the global ranking for the second year in a row in the latest Economic Freedom Index published last week by US conservative think-tank, The Heritage Foundation.
Singapore increased its overall score by 0.3 points to 89.7 primarily due to an improvement in the score for government spending. Singapore s score is well-above the regional and world averages.
Rounding up the global top five are New Zealand in second place with 83.9 points, Australia, third (82.4 points), Switzerland in fourth with 81.9 points and Ireland (81.4 points).
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Would India benefit from businesses relocating from Myanmar? By Lee Kah Whye | Updated: Mar 01, 2021 16:33 IST
Singapore, March 1 (ANI): When Myanmar s military seized power after detaining Aung San Suu Kyi and other democratically elected leaders in the early hours of February 1, they would have anticipated a civilian uprising, international condemnation and likely trade and financial sanctions.
They probably calculated that such a move, as has happened in the past, will result in initial months of unrest and international tension which would gradually subside into the background as other more important global events take over the attention of the international community.
What could be different this time is that the people of Myanmar, after having tasted relative freedom from military rule since 2010, could feel they have more at stake compared with 1990 when the military last invalidated the result of a general election.
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